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Frequently Asked Questions

Meridian auction registration

For online property auctions a £200 refundable deposit is required to secure bids. Deposits are not deducted from invoice totals but are refunded upon request via info@meridian-estateagents.com  or can be left on the account for future bidding.

Secure Payment Provider

How Do I Pay For Property lot?

What charges are made as fees and on administration?

If you require any professional advice from solicitors, mortgage advisers or insurance companies, you will find details of various companies that will be happy to help you in our auction online. Alternatively, if you require any further information on purchasing properties at Auction please do not hesitate to contact our office.

Meridian online Auctions Services currently charge an Administration fee of 4% + Vat of the sale price of the lot. For example If the property reaches the price of £100.000 4% is £4000 plus vat total £4800.

These charges will automatically be applied to every sales invoice. Additionally we charge a Credit Card Processing Fee of 3% + VAT on all on-line Credit Card Transactions.

The Credit Card Processing fee will affect OnLine Deposits and Registration. The contract will specify the completion date which is usually 28 days from the auction.

You must ensure that the remaining balance of the purchase price is with your solicitors before the completion date, in order to conclude the transaction.

If you are having a mortgage you must instruct your bank/building society to proceed with your application immediately to ensure the funds are made available in time. Failure to complete your purchase for any reason will result in penalties.

You will at least lose your deposit plus the vendor can sue you for their out-of pocket expenses such as our costs as well as his/her solicitors’ fees and for any shortfall if the property is sold again for less money.

Once you have found the property you would like to buy, you now need to prepare for the auction. We recommend you should:

  • View the property before the auction.
  • If necessary, arrange for a surveyor to have a look at the property.
  • Have a look at the legal documents.
  • These are available to view in our office or on our website.
  • The legal documents are usually available at least 7 days before the auction.
  • It is also wise to arrange for your solicitor to look through these before you bid on a property.
  • We work closely with financial establishment, who have been applying common sense to lending over years.  With same day “in-principle” decisions, find out how they could help you get in touch 01215653040

 

 

feature-auction-img-1We consider it essential that you ensure your satisfaction with the property lot and that viewing of the lot prior to bidding should take place.

Only customers who are currently registered on our web site will be allowed into our sites to view property lot. Meridian online Auctions Services member of staff will then accompany you around the property lot allowing you to see the property lot you would like to view.

The Registered buyer may bring an advisor when viewing a property lot

All customers will need to register on-line before they will be able to bid on our on-line auctions. Our current registration fee is £200.  If your bid is successful the registration fee will be returned to the bidder or can be left for future bids.

You can view all property lot via the AUCTION ENTRANCE page.

This is where a property lot is in stock at Meridian online Auctions Services but not yet available for sale.

You can declare an interest online and be notified when that property is available and scheduled for auction. We are unable to offer viewing facilities for future items.

This depends on our company suppliers, who tell us that the property lots is available for sale.

On average such items would be available within 4 weeks but it may be longer. Sometimes (in about 1% of cases) we are asked to remove such items from sale, in these cases if you have registered an interest we will tell you.

We believe that most online auction web sites are fundamentally unfair in that the winning bidder is not the person prepared to pay the most money but the person who manages to enter their bid at the last possible second.

Thus many other online auctions end up being more of a lottery rather than an auction. Some sites such as “BidSlammer” have developed to take advantage this loophole.

If someone bids on an item within five minutes of the scheduled auction end time the auction extension feature will be triggered. An auction will close at the scheduled end time or five minutes after the last bid. Whichever is the later.

Please check your recent emails. we will suspend customers if they breach our terms and conditions.

We will also suspend customers if they are the highest bidder for a property lot but we have been unable to take a deposit on a winning bid.

We have implemented a system to validate registered Credit Cards when users log in rather than only using the card when you win an item. This will only happen once per day, and only after you have successfully logged in

To solve the problem, you need to clear your “Temporary Internet Files” and “Cookies” (cookies are small files that are generated when you visit web pages, sometimes these files fail to update, resulting in the login error).

Google have a site Herethat explains how to do it.

It increases the value of your home or business. It also can help protect your home in case of an outdoor fire.

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